Russian cabinet to discuss macroeconomic forecast
The agenda of the cabinet’s meeting also includes the consideration of the issue of ratification of the agreement on free trade between the Eurasian Economic Union and Iran.
Russia’s government will discuss the outlook on development of the Russian economy in 2025-2027 at a meeting on Tuesday, as well as consider ratification of the agreement on free trade between the Eurasian Economic Union (EAEU) and Iran, the press service of the government reported.
The first issue of the meeting concerns "scenario conditions for functioning of the economy of the Russian Federation, the main parameters of the outlook on Russia’s social and economic development and projected price (tariff) changes <…> in 2025 and the planned period of 2026-2027," the report said.
The Economic Development Ministry said earlier that in its new forecast it could upgrade the current projection of Russia’s GDP for 2024 considering the solid economic growth at the beginning of the year. The ministry’s official macroeconomic outlook released in 2023 suggests GDP growth at around 2.3% in 2024-2025, and at 2.2% in 2026.
The agenda of the cabinet’s meeting also includes the consideration of the issue of ratification of the agreement on free trade between the Eurasian Economic Union (EAEU) and Iran. If approved the document will be submitted for ratification to the State Duma (lower house of the parliament).
The agreement was signed in December 2023. Russian President Vladimir Putin said that the document stipulates a considerable reduction of non-tariff barriers and a notable improvement of commercial cooperation between business circles of Russia and Iran. The Economic Development Ministry explained that Tehran would provide tariff preferences for more than 95% of the current Russian export to the country, as well as set a predictable and transparent trade mechanism. The European Economic Commission said that the creation of free trade with Iran would allow boosting the volume of its trade with EAEU countries to $18-20 bln per year within 5-7 years.
Source
Russia’s government will discuss the outlook on development of the Russian economy in 2025-2027 at a meeting on Tuesday, as well as consider ratification of the agreement on free trade between the Eurasian Economic Union (EAEU) and Iran, the press service of the government reported.
The first issue of the meeting concerns "scenario conditions for functioning of the economy of the Russian Federation, the main parameters of the outlook on Russia’s social and economic development and projected price (tariff) changes <…> in 2025 and the planned period of 2026-2027," the report said.
The Economic Development Ministry said earlier that in its new forecast it could upgrade the current projection of Russia’s GDP for 2024 considering the solid economic growth at the beginning of the year. The ministry’s official macroeconomic outlook released in 2023 suggests GDP growth at around 2.3% in 2024-2025, and at 2.2% in 2026.
The agenda of the cabinet’s meeting also includes the consideration of the issue of ratification of the agreement on free trade between the Eurasian Economic Union (EAEU) and Iran. If approved the document will be submitted for ratification to the State Duma (lower house of the parliament).
The agreement was signed in December 2023. Russian President Vladimir Putin said that the document stipulates a considerable reduction of non-tariff barriers and a notable improvement of commercial cooperation between business circles of Russia and Iran. The Economic Development Ministry explained that Tehran would provide tariff preferences for more than 95% of the current Russian export to the country, as well as set a predictable and transparent trade mechanism. The European Economic Commission said that the creation of free trade with Iran would allow boosting the volume of its trade with EAEU countries to $18-20 bln per year within 5-7 years.
Source